Buffett on Gold

Nov. 3.10 | About: SPDR Gold (GLD)

Buffett was recently asked about gold in a conversation with Ben Stein. His answer was typical Buffett: short, direct, and steeped in common sense and logic.

You could take all the gold that's ever been mined, and it would fill a cube 67 feet in each direction. For what that's worth at current gold prices, you could buy all -- not some -- all of the farmland in the United States. Plus, you could buy 10 Exxon Mobils, plus have $1 trillion of walking-around money. Or you could have a big cube of metal. Which would you take? Which is going to produce more value?

No need to for me to ramble any futher on this one. Read the rest by clicking here.